In our latest State of Grant Management Report, 66% of respondents said they could benefit from grant management software.
Grant management software is known to be an effective way to streamline processes and automate reporting, but there are lesser-known benefits as well.
Let’s look at three hidden grant management software benefits based on report findings.
Of the respondents who cited they could benefit from grant management software, 58% didn’t draw down all the grant revenue they were awarded the previous year. Twenty-two percent lost more than 10% of revenue.
Grant management software can help streamline grant management processes to receive every dollar awarded. Specific functionality includes:
Ensure you aren’t leaving your money on the table by effectively drawing down on grant dollars. For tips on how to maximize your grant management drawdown, download our fact sheet.
If you’re a prime recipient, grant management software can ensure proper sub-recipient monitoring, reporting and auditing. In our report, 73% of organizations that could benefit from grant management software were lead recipients.
Encourage standardization and improve sub-recipient communications with the following capabilities:
Have better insight into your sub-recipients so when it comes time for reporting, information is easily accessible and ready for report creation.
There are many moving pieces when it comes to managing the entire grant lifecycle. From pre-award planning to post-award reporting, no detail can go left unattended.
Of those who cited they could benefit from grant management software, 20% felt grant writing and submission was their biggest frustration. Grant management software simplifies the granting writing and submission process by helping you:
For more on the current state of grant management, download our 2016 State of Grant Management Report.
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